Auction Sale in Manhattan Beach

2701 Oak Avenue, Manhattan Beach | Auction Sale coming April 12th, 2015

2701 Oak Avenue, Manhattan Beach | Auction Sale coming April 12th, 2015

Auction Sale in Manhattan Beach

Here’s some dirt on some dirt for sale in Manhattan Beach’s Tree Section. Located on the good side of Oak Avenue, this home is on a 4,481 square foot corner lot, which will be attractive to developers and buyers alike. Listed on the MLS for $799,000, fair market for the home, actually for the dirt,  is in the $1,200,000 range. 

The information from the listing states that this is a Probate Auction with no starting bid price. Also, Property is being sold As Is and offers with a financing contingency will not be considered. Because it’s a Probate Sale, the court needs to approve the final sale, which is also a time when an accepted offer can be trumped with an over-bid from a buyer who’s standing on the sidelines.

When

Auction is on-site at the property, Sunday, April 19th at 4:45 PM.

When to see the home

Showing on the property are limited to Sunday April 12th, 3:30 to 5:30 and on the day of the auction, 3:45 to 4:45. 

Our Take on this

The corner lot configuration and position on the East side of Oak make this a desirable purchase. The MLS price of $799,000 will bring 15 to 30 opportunistic buyers thinking they can get a great deal on Manhattan Beach real estate. In addition the auction will draw a handful of developers who will come with cash in hand. There is no deal to be had hear. The final price will definitely be at, or slightly above market—we wouldn’t be surprised to a final number around $1,300,000.